Solar PV to Double in US in 2011
In spite of a current weak economic climate, the solar photovoltaic panel market in the US is set to double in 2011, according to New York-based research firm Solarbuzz.
A report from the solar market research and analysis company claims that the second half of the year will see sales in the solar PV market double, largely due to incentives and lower module prices.
According to the ‘United States PV Market Report’, the solar PV market in the US could also grow to as high as 6.4 GW by 2015, which would see the US account for 12% of the global solar PV market. Up from its current 5%, this scenario would see the US become the third-largest market for solar PV in the world, with Germany and Italy maintaining the lead respectively.
"With rapid declines in factory gate prices over the past eight weeks as manufacturers and distributors focus on depleting module inventories, demand has picked up across residential, corporate and Government segments," commented Craig Stevens, Solarbuzz president.
"This acceleration is being supplemented by explosive utility demand and the rush to install before federal cash grants are scheduled to expire at the end of the year,” he added.
The combination of policies and incentives implemented at federal, state and local levels has resulted in the increased growth in sales of solar panels in the US. California maintains its market domination, despite the state’s share having dropped from 50% in 2009, to 30% in 2010. The states of Arizona, Colorado and New Jersey also dominated the state top 1o list.
Thanks to the country’s two largest solar projects – Nevada’s 48 MW-AC Copper Mountain Solar Project and the 30 MW-AC Cimarron Solar in New Mexico – both states have made it onto the top 10 list for the first time.
Solarbuzz is known globally as a market research business which focuses on the solar energy and solar photovoltaic industries.